London's Prince Charles Cinema fears its future is at risk

Prince Charles Cinema

The Prince Charles Cinema in London's West End says it believes its future is under threat, due to new terms being imposed by its landlord.

It says the building's owner wants to raise its rent to "significantly" above market rates and has demanded a new clause which, if triggered, would leave the cinema homeless with just six months' notice.

The Leicester Square venue, which describes itself as one of the last remaining independent cinemas in central London, is accusing the landlord, Zedwell LSQ, of trying to "bully" the business out of the building.

Criterion Capital, Zedwell LSQ's parent company, said the terms of a new lease were standard practice and not unreasonable.

Criterion is owned by billionaire developer Asif Aziz and owns a number of hotels and other properties in the West End.

The company has continually rejected requests for negotiation, the cinema said.

In a petition that has received more than 40,000 signatories, the Prince Charles Cinema said it believed the landlord was seeking planning permission to redevelop the site.

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A spokesperson for the venue said: "We are one of the last remaining independent cinemas in central London, receiving no public funding and attracting over 250,000 customers a year at a time when the industry is struggling.

"Losing the Prince Charles Cinema would mean losing not just an iconic cultural institution, but also an engine for the economy of the West End... This would have repercussions way beyond the building itself."

Criterion Capital said: "A break clause is standard commercial practice, reflecting long-term property planning, not unreasonable intent."

It added that its rental expectations were based on a fair market assessment and that it remained "open to constructive dialogue" with the cinema's operator Bubble Chamber Ltd.